## **Vilnius Lyceum Alumni Association UK** **Registered Charity, No: 1184536** ## **Trustees’ Annual Report & Statement of Financial Activity** _for the period 1[ st ] January 2022 – 31[ st ] December 2022_ ## **Trustees** Justas Bugnevičius Domantas Jankauskas Kristupas Pačkauskas Adomas Paltanavičius Darius Pieslikas _Page 1 of 6_ ## **Trustees’ Annual Report & Statement of Financial Activity** _for the period 1[ st ] January 2022 – 31[ st ] December 2022_ ## **Contents** ||**Contents**|**Contents**|| |---|---|---|---| |**1**|**Reference and Administration Details**||**3**| ||1.1|Charity Name & Registration|3| ||1.2|Charity’s Address|3| ||1.3|Names of the Trustees Who Manage the Charity|3| ||1.4|Names of Advisors & Senior Members of Staff|3| ||1.5|Bank|3| |**2**|**Structure, Governance & Management**||**3**| ||2.1|Constitution and Type of Governing Document|3| ||2.2|Charitable Objects|4| ||2.3|Trustee Selection Methods|4| |**3**|**Activities**||**4**| ||3.1|Statutory Declaration|4| |**4**|**Achievements & Performance**||**4**| ||4.1|Outputs and Outcomes for the Charity’s Beneficiaries|4| ||4.2|How the Public Have Benefitted.|4| ||4.3|Contributing to Activities Run by Other Organisations|4| ||4.4|Trustee Development|4| |**5**|**Financial Review**||**4**| ||5.1|Details of Any Funds Materially in Deficit|4| ||5.2|Policy on Reserves|5| ||5.3|Principal Sources of Funding and Outgoings|5| ||5.4|Remuneration of Trustees|5| ||5.5|Financial Status|5| ||5.6|Statutory Statements on Liabilities|5| _Page 2 of 6_ ## **Trustees’ Annual Report & Statement of Financial Activity** _for the period 1[ rt ] January 2022 – 31[ st ] December 2022_ ## **1 Reference and Administration Details** ## **1.1 Charity Name & Registration** ## **Vilnius Lyceum Alumni Association UK (VLAAUK)** The charity is a Charitable Incorporated Organisation, registration no: 1184536, registered with the Charity Commission on 23[ rd ] July 2019. The charity is registered with HM Revenue & Customs. ## **1.2 Charity’s Address** VILNIUS LYCEUM ALUMNI ASSOCIATION UK, 124 City Road, London, EC1V 2NX e-mail: vlaauk@licejausalumni.lt website: http://licejausalumni.lt/vlaauk ## **1.3 Names of the Trustees Who Manage the Charity** |**Name**|**Role**|**Appointed 1**|**Resigned 1**| |---|---|---|---| |Domantas Jankauskas|Chair||| |Justas Bugnevičius|Trustee||| |Rusnė Didžiulytė|Trustee||| |Gabrielius Glemža|Trustee||14th Dec 2022| |Kristupas Pačkauskas|Trustee|2nd Dec 2022|| |Adomas Paltanavičius|Trustee||| |Darius Pieslikas|Trustee|8th October 2022|| ## **1.4 Names of Advisors & Senior Members of Staff** None ## **1.5 Bank** Wise, 56 Shoreditch High Street, London, E1 6JJ, United Kingdom 1 If not provided, Trustee acted for the whole of the reporting period. _Page 3 of 6_ ## **2 Structure, Governance & Management** ## **2.1 Constitution and Type of Governing Document** The charity is constituted as a CIO (Charitable Incorporated Organisation). Charity’s governing document is its Constitution – based on the Charity Commission’s model governing document for Foundation Charitable Incorporated Organisations, i.e., where the Trustees are the only Members of the charity. The Constitution is dated/was last amended on 11[ th ] July 2019. ## **2.2 Charitable Objects** As defined in VLAAUK’s Constitution (Governing Document): _The Objects of the CIO are:_ _'For the public benefit to advance the education of students and alumni of Vilniaus licėjus_ _(Vilnius Lyceum) school including, but not limited to the awarding of scholarships, the_ _provision of maintenance allowances and grants and providing and assisting the provision of_ _facilities for education at the school.'_ ## **2.3 Trustee Selection Methods** There must be at least three charity Trustees. There is no maximum number of charity Trustees that can be appointed to the CIO. In accordance with the Constitution, Trustees are appointed by a resolution passed at a properly convened meeting of the charity Trustees. In selecting the individuals for appointment as charity Trustees, the charity Trustees give regard to the skills, knowledge and experience needed for the effective administration of the CIO. ## **3 Activities & Performance** ## **3.1 Statutory Declaration** The Trustees of VLAAUK confirm that they have paid due regard to the guidance issued by the Charity Commission on public benefit in deciding what activities the charity should undertake. ## **3.2 Outcomes for the Charity’s Beneficiaries** During this period the Trustees of the VLAAUK, acting in accordance with charity’s objects, awarded four scholarships to the alumni of Vilniaus licėjus (Vilnius Lyceum)[ 2 ] : - £12,230 towards the cost of tuition of a Master of Advanced Study in Applied Mathematics degree at the Cambridge University; - £6,873 towards the cost of tuition of a Master of Arts in History of Art degree at the Courtauld Institute; - £7,638 towards the cost of tuition of BSc Philosophy, Logic and Scientific Method degree at the London School of Economics (LSE) Apart from the above scholarships, during the reporting period the charity incurred bank fees of £23 and foreign currency exchange loss of £52. The charity had incurred no further material expenses during the reporting period. > 2 GBPEUR exchange rate used to report the size of EUR-denominated scholarships: € 1.19 _Page 4 of 6_ ## **3.3 How the Public Have Benefitted** All Trustees have read the guidance on public benefit issued by the Charity Commission and have considered this guidance when exercising any powers or duties to which the guidance was relevant. As outlined in 4.1, scholarships were awarded with an aim to advance education and personal development of alumni of Vilniaus licėjus (Vilnius Lyceum). ## **4 Financial Review** ## **4.1 Policy on Reserves** The VLAAUK Reserves Policy was approved by the Trustees and came into effect on 10th June 2021. The Charity’s policy on reserves is to generate and maintain a balance which is sufficient: - to preserve the financial viability of the Charity in the event that unforeseen and/or unavoidable circumstances precipitate a short-term fall in its income combined with emergence of unexpected expenses; - to enable the Charity, in the interests of meeting its objectives, to undertake from time to time the setting up of new and innovative initiatives on a pilot basis to demonstrate the viability and potential benefits of such activities as a precursor to securing the external funding necessary to maintain such initiatives on an on-going basis. For these purposes and taking into account the range and type of activities undertaken by the Charity as well as the size of Charity’s financial obligations, the Trustees will endeavour to generate and maintain reserves which are at least £500. ## **4.2 Principal Sources of Funding and Outgoings** During the reporting period the charity raised £23,506 in unrestricted funds from voluntary receipts. Since the gross annual income was below £25,000, the Charity did not have the annual accounts examined independently. ## **4.3 Remuneration of Trustees** All Trustees act in a voluntary capacity and receive no remuneration or other material benefits from their services to the Charity. Out-of-pocket expenses necessarily and reasonably incurred by Trustees in promoting the purposes of the Charity are reimbursed at cost. During this reporting period expenses incurred and reimbursed to Trustees were £nil. ## **4.4 Financial Status & Controls** VLAAUK does not have any material governance/administrative costs or other financial obligations. Scholarships awarded by the Charity are fully pre-funded by unrestricted funds accumulated up to the date at which the commitment to award scholarships is made. As such, Charity’s resources from unrestricted resources are sufficient to meet its outgoings. ## **4.5 Statutory Statements on Liabilities** The Trustees declare that: _Page 5 of 6_ - ✔ The charity has given no guarantees where potential liability under the guarantee is - outstanding at the date of this statement; - ✔ The charity has no debt outstanding at the date of this statement which is owed by the CIO and which is secured by an express charge on any assets of the CIO; Approved by the Trustees and signed on their behalf, Domantas Jankauskas The Chair of the Board of Trustees 8th October 2023 _Page 6 of 6_ |||||||||||**CC16a**
**Last year**
**31,948**
**24,900**
**7,048**
**-**
**10,839**
**17,887**
**to the nearest £**
**31,948**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**31,948**
**-**
**-**
**24,527**
**373**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**24,900**| |---|---|---|---|---|---|---|---|---|---|---| |||**Vilnius Lyceum Alumni Association UK**|||||**No 1184536**|||**CC16a**| |||**For the period**
**from**||1/1/2022||**To**||31/12/2022||| |||||||||||| ||**Section A Receipts and payments**|||||||||| ||**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest**
**£**||**Restricted**
**funds**
**to the nearest £**||**Endowment**
**funds**
**to the nearest £**||**Total funds**
**to the nearest £**||**Last year**
**to the nearest £**| ||Voluntary Receipts|**23,506**||**-**||**-**||**23,506**||**31,948**| ||Foreign exchange gain|**-**||**-**||**-**||**-**||**-**| |||**-**||**-**||**-**||**-**||**-**| |||**-**||**-**||**-**||**-**||**-**| |||**-**||**-**||**-**||**-**||**-**| |||**-**||**-**||**-**||**-**||**-**| |||**-**||**-**||**-**||**-**||**-**| |||**-**||**-**||**-**||**-**||**-**| ||**_Sub total_**
_(Gross income for_
_AR)_|**23,506**||**-**||**-**||**23,506**||**31,948**| |||||||||||| ||**A2 Asset and investment sales,**
**(see table).**|||||||||| |||**-**||**-**||**-**||**-**||| |||**-**||**-**||**-**||**-**||**-**| ||**A3 Payments**
**_Sub total_**
**_Total receipts_**|**-**||**-**||**-**||**-**||**-**| |||||||||||| |||**23,506**||**-**||**-**||**23,506**||**31,948**| |||||||||||| ||Costs of charitable activities|**26,764**||**-**||**-**||**26,764**||**24,527**| ||Foreign exchange loss|**52**||**-**||**-**||**52**||**373**| ||Administrative|**-**||**-**||**-**||**-**||**-**| |||**-**||**-**||**-**||**-**||**-**| |||**-**||**-**||**-**||**-**||**-**| |||**-**||**-**||**-**||**-**||**-**| |||**-**||**-**||**-**||**-**||**-**| |||**-**||**-**||**-**||**-**||**-**| |||**-**||**-**||**-**||**-**||**-**| ||**_Sub total_**|**26,815**||**-**||**-**||**26,815**||**24,900**| |||||||||||| ||**A4 Asset and investment**
**purchases, (see table)**|||||||||| |||**-**||**-**||**-**||**-**||| |||**-**||**-**||**-**||**-**||| ||**A6 Cash funds last year end**
**A5 Transfers between funds**
**_Sub total_**
**_Total payments_**
**_Net of receipts/(payments)_**
**_Cash funds this year end_**|**-**||**-**||**-**||**-**||| |||||||||||| |||**26,815**||**-**||**-**||**26,815**||**24,900**| |||||||||||| |||**-**
**3,309**||**-**||**-**||**-**
**3,309**||**7,048**| |||**-**||**-**||**-**||**-**||**-**| |||**17,888**||**-**||**-**||**17,888**||**10,839**| |||**14,579**||**-**||**-**||**14,579**||**17,887**| |||||||||||| |||||||||||| ## **Section B Statement of assets and liabilities at the end of the period** |**Categories**
**B1 Cash funds**|**Details**|**Details**|**Unrestricted**
**funds**
**to nearest £**|**Unrestricted**
**funds**
**to nearest £**|**Restricted**
**funds**
**to nearest £**|**Restricted**
**funds**
**to nearest £**|**Endowment**
**funds**
**to nearest £**| |---|---|---|---|---|---|---|---| ||Bank Account||**14,579**||**-**||**-**| ||||**-**||**-**||**-**| ||||**-**||**-**||**-**| |**B2 Other monetary assets**
**B3 Investment assets**
**B4 Assets retained for the**
**charity’s own use**
**B5 Liabilities**
Signed by one or two trustees on
behalf of all the trustees|**_Total cash funds_**
(agree balances with receipts and payments
account(s))
**Details**
**Details**
**Details**
**Details**
Signature||**14,579**||**-**||**-**| ||||||OK||OK| ||||**Unrestricted**
**funds**
**Restricted**
**funds**
**to nearest £**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**asset belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**Fund to which**
**asset belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**Fund to which**
**liability relates**
**Amount due**
**(optional)**
**-**
**-**
**-**
**-**
Justas Bugnevicius
Adomas Paltanavicius
Print Name||||**Endowment**
**funds**
**to nearest £**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**Current value**
**(optional)**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**Current value**
**(optional)**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**When due**
**(optional)**| ||||||||| ||||||||| ||||||||| ||||||||| ||||||||Date of
approval| ||||Justas Bugnevicius||||2023-08-15| ||||Adomas Paltanavicius||||2023-08-15|